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Top 10 Trends in Insurance, 2015: Personal Risk Management

Top 10 Trends in Insurance, 2015: Personal Risk Management

In 2015, insurers will help their customers to define and manage their specific risks.

Boston, January 15, 2015 – The U.S. insurance industry benefited from a stronger economy in 2014, but improved short-term financial performance has masked the industry's biggest challenge—engaging directly and effectively with customers. Insurance companies have historically relied on one-way marketing channels and backward-looking underwriting and pricing approaches. In 2015, the proliferation of smartphones, sensor fusion technology, and new risk-scoring models, among other technologies, will usher in a new paradigm for insurance marketing and risk management: personal risk management.

Aite Group reveals the top 10 trends that will shape the insurance industry in 2015:

Smartphones enable next-generation risk management capabilities

The Internet of Things and sensor fusion technology contextualize risk

A personal data backlash creates monitoring opportunity

Insurance learns to share

Digital marketing platforms socialize

Core applications cloud compute

Risk-scoring models sell life insurance

Health insurance transparency reaches ubiquity

Health insurance payments go mobile

Docs demand denial-management data

This 18-page Impact Note contains three figures and one table. Clients of Aite Group's Health Insurance, Life Insurance, or P&C Insurance services can download this report.